Egypt offers 12 blocks for gas exploration

Egypt has invited foreign companies to hunt for gas in 12 blocks as part of a drive to increase its hydrocarbon resources.
The investment opportunities were announced on the Oil Ministry's international bids portal last week and they include five offshore and seven onshore sites.
The Ministry said the 12 blocks are open for investment by foreign companies as part of the latest concession licenses round which includes 34 oil and gas opportunities.
The gas blocks are offered by the state-owned Egyptian Natural Gas Holding Company (EGAS), which said they are concentrated in the Mediterranean and North Egypt.
Egypt's proven gas reserves are officially estimated at around 2.2 trillion cubic metres but it also relies on imports due to its high demand.
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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